RealTown's RealTalk

'scuse my ignorance, but how has Supra boxes helped with your REO listings?
In what way? The asset management company I am working with wanted a
specific combo so their field agent could access the house whenever. I would
prefer Supra boxes, myself, but our board does not use them.

Yours to Count On!

Juanita R. Williams REALTOR(r) e-PRO
970-618-4525 cell ph-the easiest way to reach me!
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Juanita Williams has a request for a lock box combination for an ASSET MANAGEMENT COMPANY she is "working" with.

"The asset management company I am working with wanted a
specific combo so their field agent could access the house whenever."

Unfortunately the lock boxes are for Cooperating Agents. If the Asset Managment company is interested in ACCESS they should already have a key in their position. The lock boxes are for MLS agents ONLY!!!!! What a bunch of bones heads!

I think Robert meant a "key" like a regular key, the way that HUD keys their properties.
However, yes, Robert, Supras are limited to MLS membership, but a combo-box has no such restrictions.
You can buy a combo-box at HomeDepot... and they make good housewarming gifts for buyers with kids, maids, in-laws, or again, having contractors in and out.... always advise them to change the code once in a while.

Lindy in Houston

Well, I do not know what has been going on in your area BUT the combo boxes are easily broken into. Granted anyone who wants to break into a home will find a way. Even the supra boxes have been taken off the door knobs(door knobs missing as well) but they are harder to break into.

I cannot count how many times I have shown a REO home where I found the combo box left open and keys hanging out.......back doors left open....arrived at a home to see individuals leaving that was very clearly not realtors or agents who had gotten the combo from their agent who was either too busy to show them or whatever.....

I have had several investors try to get the combo info from me and/or regular buyers as another "agent" apparently gave it to them and they do not understand what the hoopla is all about.

If the banks do not care I guess it is the banks choice for such.

For those homes that are still owner occupied and/or still in owner possession the liability is great.

Hmmmm. Do we have someone doing their first REO property? :>)

Word of advise. Don't refer to asset management companies as boneheads. They have policy and you follow it or they will find someone else.

As mentioned by the others, they are not asking for a Supra key. They want a combination lockbox. In my area all the REO properties are on combo lockboxes with the electronic LBs on the "regular" listings. If you need to have two lockboxes, no big deal. But I think that most agents can handle a combo lockbox. Shoot, as an REO listing agent myself I can't remember the last time I used my Supra Key. I have to take along the instructions as it can be months inbetween using it.

Seriously, this is standard procedure. You must have just misunderstood.

No, Eileen, it is not the REO listing agent that decides this.... the banks, asset mgmt cos., and many corporate RELO companies do the same thing, which is, require that a combo lockbox be used. Of course, a Supra can be used at the same time.

While these properties are listed, besides giving access to cleaning crews, and several different types of contractors, and people to come winterize, the banks often have their own people (and others) that simply check up on the property (surprise visits), and they need access.

Usually the agents handle ordering the cleaning crew, winterizing, etc., but some REO & RELO companies have contracts with maintenance companies that do all that stuff automatically, without talking to the agent.

I was at a house today that had the back door unlocked, and a broken window in front, but the combo-lockbox was intact.... our local board used to have stats regarding crimes related to lockboxes, and they were almost nil.
Properties get broken into, sure, but seldom due to the lockbox.
(If I wanted to break in, I'd just kick in a door or break a window... doubt I'd want to waste a bunch of time trying to get into a lockbox, of ANY kind.... too time consuming.)

Lindy in Houston